Category: Latest Stories

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Latest StoriesRegulatory

Chandigarh Property Tax Defaulters to Receive Recovery Notices Soon

CHANDIGARH: Property tax defaulters in the city should brace themselves for recovery notices, including penalties and interest, expected to be dispatched by the end of this month or early next month, as the civic body initiates the compilation of defaulter lists. Individuals who have not paid their property tax within the designated two-month period will incur a 25% penalty, plus 12% interest on the total tax amount. As the tax branch finalizes the data on taxpayers, sources indicate that there will be a prioritized focus on collecting dues from defaulters. Separate lists for residential and commercial defaulters will be generated,…

Latest StoriesResidential

Goa CM: Over 5,000 Applications for Majhe Ghar Scheme

PANAJI: Chief Minister Pramod Sawant announced on Wednesday that over 5,000 applications have been approved under the Majhe Ghar scheme, with approximately 3,000 orders ready for distribution to homeowners. On Thursday, 1,000 orders will be delivered in Margao at Ravindra Bhavan, catering to house owners in South Goa. According to Sawant, more than 95% of houses located on government land are owned by Goans. He reiterated that the state government will not permit the construction of illegal houses by migrants. “My government is against illegal construction in Goa. We have revised the process to prevent such structures,” the CM stated.…

IndustryLatest Stories

Himachal Pradesh’s Land Pooling Policy to Follow Successful State Models

Representative AI image SHIMLA: The Himachal Pradesh government is set to draft a Land Pooling Policy inspired by successful land assembly models seen in states like Punjab. This decision came during a Cabinet Sub-Committee meeting chaired by Revenue, Horticulture, and Tribal Development Minister Jagat Singh Negi on Wednesday. The Cabinet Sub-Committee aims to devise solutions to ease congestion in Shimla and major industrial areas, such as Baddi-Barotiwala-Nalagarh (BBN), while placing special emphasis on relocating wholesale markets (mandis). During the meeting, detailed discussions took place regarding the development of a new township in the BBN area and establishing a satellite town…

CommercialLatest Stories

MCD to Seal Unauthorised Commercial Buildings in South Delhi

NEW DELHI: The Municipal Corporation of Delhi (MCD) will begin sealing unauthorized commercial buildings in the South Zone starting Thursday, following a tragic fire that claimed the lives of 21 individuals, including 11 foreigners, at the Flourish Stay bed-and-breakfast hotel in Malviya Nagar on Wednesday. According to officials, the devastating fire occurred in a Lal Dora village area, involving a building first constructed in the 1980s and then rebuilt in 2012-13. The hotel primarily served patients visiting a nearby hospital. Officials indicated that of the 35 injured, 19 remain in critical condition across various hospitals in Delhi. They noted that…

Latest StoriesResidential

Telangana to Update Property Registration Rates on June 5

HYDERABAD: Telangana is set to implement new land values for property registrations statewide starting June 5, marking the first significant rate update in nearly a year. This decision comes after extensive field surveys and data from sub-registrar offices (SROs), with officials stating that the revision aims to align government-notified rates with current market values. Revision Overview: The new rates will be categorized into four tiers—25%, 50%, 75%, and 100% increases on existing registration values for both agricultural and non-agricultural lands. Most property rates will fall within the 25%, 50%, or 75% categories, with only a few areas in prime urban…

InfrastructureLatest Stories

U.P. Cabinet Greenlights Funds for New Cities in Agra, Bareilly, Prayagraj

LUCKNOW: The Uttar Pradesh Cabinet greenlit proposals to allocate funds for the planned and comprehensive development of new cities in Agra, Bareilly, and Prayagraj under the Chief Minister Urban Expansion/New City Promotion Scheme. This decision was made during a Cabinet meeting led by Chief Minister Yogi Adityanath, as stated in an official announcement. For the financial year 2026-27, a budget allocation of ₹3,500 crore has been established for the scheme. As part of this initiative, seed funding of up to ₹355.06 crore has been sanctioned for agencies involved in the new city projects in Agra, Bareilly, and Prayagraj, with ₹225…

IndustryLatest Stories

Delhi Home Minister: Seal Buildings Without Fire Safety NOC

NEW DELHI: In the wake of the Malviya Nagar fire that resulted in the loss of 21 lives, including 11 foreign nationals, Delhi Home Minister Ashish Sood announced on Wednesday that buildings lacking necessary fire safety measures and permits will be sealed. “We have decided to seal all structures that do not possess the required NOCs,” Sood stated after an emergency meeting led by Delhi LG Taranjit Singh Sandhu to assess the city’s fire safety protocols. The government will initiate a fire safety awareness campaign targeting residential buildings that do not require NOCs from the Delhi Fire Services, the minister…

IndustryLatest Stories

Kotak Alts closes 14th real estate fund near $1 billion

Representative AI image NEW DELHI: Kotak Alternate Asset Managers (Kotak Alts), the alternative assets division of Kotak Group, has successfully closed its fourteenth real estate fund at nearly $1 billion. The fund has received an anchor commitment from a subsidiary of the Abu Dhabi Investment Authority (ADIA) and funding from the National Pension Service of the Republic of Korea (NPS Korea). ADIA has committed over $675 million to this fund, marking the sixth consecutive investment by an ADIA subsidiary in Kotak Alts’ real estate platform. This is NPS Korea’s initial investment in Indian alternative assets, as per the company. Kotak…

Latest StoriesRegulatory

SC Forms Expert Panel on Aravalis Amid Independence Concerns

NEW DELHI: The Supreme Court has commissioned a five-member high-powered committee to redefine the boundaries of the ‘Aravali hills and ranges,’ after discarding the contentious 100-meter height criterion previously accepted by the court. A bench consisting of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M. Pancholi stated that the Director General of the Indian Council of Forestry Research and Education (ICFRE) will serve as the ex-officio chairperson. Other committee members will include former Director General of the Forest Survey of India (FSI) Subhash Ashutosh, ex-Director of the Geological Survey of India (GSI) Rajendra K. Sharma, former joint…

Latest StoriesResidential

Indore District Sees Housing Stock Double in 15 Years

INDORE: The early findings of the 2027 census indicate a considerable rise in housing structures across Indore district over the past 15 years, alongside a notable increase in population. The comprehensive house-listing phase shows that the total number of structures in the district grew from 6.49 lakh in 2011 to over 12.70 lakh, marking a net increase of 6.20 lakh units. The population is estimated to have risen from over 32 lakh in 2011 to approximately 44 lakh now. According to IMC additional commissioner NN Pandey, the initial phase of the census is complete, demonstrating a substantial rise in both…